The SPDR S&P Regional Banking ETF (KRE) fell 6.3 percent on Tuesday. This was its biggest drop since plunging 12.3 percent on March 13, the day after the U.S. government intervened to shore up confidence in the banking sector following the collapse of Silicon Valley Bank and Signature Bank. The sell-off in regional bank ETFs came after First Republic Bank, a San Francisco-based lender, was closed by regulators on Monday. JPMorgan Chase & Co. won an auction to take over First Republic’s deposits. The KRE ETF is down more than 10 percent this year, while the SPDR S&P Bank ETF (KBE) is down more than 9 percent. The sell-off in regional banks comes amid rising concerns about a potential recession. Investors are worried that a recession could lead to loan defaults and other problems for banks. The broader U.S. stock market is also down sharply this year, with the S&P 500 index down more than 10 percent.